Solid Biosciences (NASDAQ:SLDB) Upgraded to Outperform at SVB Leerink

SVB Leerink upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a market perform rating to an outperform rating in a report issued on Monday, MarketBeat reports. They currently have $12.00 target price on the stock.

SLDB has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their price objective on shares of Solid Biosciences from $12.00 to $10.00 and set a neutral rating for the company in a research note on Friday, May 31st. Citigroup assumed coverage on shares of Solid Biosciences in a research note on Friday, March 15th. They set a buy rating and a $16.00 target price for the company. Barclays decreased their target price on shares of Solid Biosciences from $21.00 to $18.00 and set an overweight rating for the company in a research note on Thursday, May 16th. HC Wainwright reissued a buy rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Monday, May 20th. Finally, William Blair reissued an outperform rating on shares of Solid Biosciences in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Buy and an average target price of $15.33.

Solid Biosciences Trading Up 0.7 %

Solid Biosciences stock opened at $5.74 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.94 and a current ratio of 14.94. The firm has a market cap of $220.30 million, a price-to-earnings ratio of -1.46 and a beta of 1.87. Solid Biosciences has a 1 year low of $1.81 and a 1 year high of $15.05. The firm’s 50 day moving average price is $8.34 and its two-hundred day moving average price is $8.75.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). On average, research analysts predict that Solid Biosciences will post -2.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vestal Point Capital LP bought a new position in Solid Biosciences in the 4th quarter worth $209,000. Vanguard Group Inc. increased its holdings in shares of Solid Biosciences by 283.9% during the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after purchasing an additional 920,404 shares during the period. Janus Henderson Group PLC bought a new position in shares of Solid Biosciences during the 1st quarter worth about $23,935,000. Artal Group S.A. increased its holdings in shares of Solid Biosciences by 175.0% during the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after purchasing an additional 1,590,781 shares during the period. Finally, Bain Capital Life Sciences Investors LLC increased its holdings in shares of Solid Biosciences by 28.9% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock worth $53,741,000 after purchasing an additional 904,160 shares during the period. Institutional investors own 81.46% of the company’s stock.

About Solid Biosciences

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.